Madoff Trustee Goes After $212M From Credit Suisse, Others
Law360, New York (May 31, 2012, 6:31 PM EDT) -- The trustee liquidating the Bernard L. Madoff Investment Securities LLC estate filed new suits Wednesday seeking to claw back $212 million from a number of banks, saying they're subsequent transferees of money from the Ponzi scheme's biggest feeder funds.
Irving Picard — who's spent months targeting alleged recipients of fraudulent transfers from Bernard Madoff's scheme as the trustee appointed under the Securities Investor Protection Act — is seeking $162.9 million from Societe Generale Private Banking (Suisse) SA and a number of related entities, and $49.1 million from Credit Suisse AG.
He says the banks received subsequent transfers of money that belongs...
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